Burn After ReadingThe 30-second intel for operators and investors⏱ 0:30
Marijuana is off the WNBA's banned substances list under the new Collective Bargaining Agreement, effectively ending routine testing. Players may now hold passive stakes under 50% in compliant marijuana companies.
Operators: Players can now invest passively in compliant marijuana businesses and own, run and promote CBD companies, including holding majority stakes. That opens new partnership and endorsement avenues, though Delta-8 THC and similar synthetics are now banned.
Investors: The WNBA joins the NBA (2023), NCAA (2024) and NFL (2024) in relaxing marijuana rules, extending a pattern of league-level acceptance. Players can now take sub-50% passive stakes in compliant marijuana companies.
Do now: Review any athlete partnership or investment plans against the new limits: passive stakes under 50% for marijuana firms, and no Delta-8 THC or similar synthetic cannabinoid products.
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Marijana is no longer on the WNBA’s list of banned substances under the new Collective Bargaining Agreement (CBA).
The new CBA reflects a shift in treating marijuana differently from other controlled substances, prioritizing player health and impairment concerns, as reported by Marijuana Moment.
This change has effectively eliminated routine marijuana testing. Players can still be tested if they are in the league’s drug program, appear impaired during team or league activities, or have a marijuana-related substance-use problem. Moreover, failing to follow treatment requirements can lead to penalties, including daily fines and increasing suspensions for repeated violations.
The WNBA’s move means players may now invest in marijuana companies if they hold a passive ownership stake of less than 50% and the company complies with all applicable laws and regulations.
Furthermore, they may own and actively operate CBD companies. That includes holding majority ownership in a CBD company and publicly promoting and endorsing CBD products.
A number of sports leagues have already moved in this direction.
The National Basketball Association removed marijuana from its banned substances list in 2023. The National Collegiate Athletic Association did the same in 2024.
The National Football League (NFL) reformed its marijuana policies the same year by reducing fines for positive tests while increasing the allowable THC threshold for players.
In the meantime, the WNBA has expanded its banned substances list to include psychedelics like DMT, ibogaine, psilocybin, and psilocin, as well as synthetic cannabinoids such as Delta-8 THC and similar compounds.